How a major oil pipeline got held for ransom

Reportsvaried on whether Colonial paid the ransom or not until May 19, when Colonial acknowledged that it did indeed pay $4.4 million worth of bitcoin (which may not be worth $4.4 million anymore). CEO Joseph Blount told the Wall Street Journal that it was a difficult decision, but one that he felt was “the right thing to do for our country.”

Blount added that it will cost Colonial far more — tens of millions of dollars — to completely restore its systems over the next several months.”

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